Exchange Traded Concepts LLC Buys 16,663 Shares of Premier, Inc. (NASDAQ:PINC)

Exchange Traded Concepts LLC grew its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,582 shares of the company's stock after purchasing an additional 16,663 shares during the quarter. Exchange Traded Concepts LLC owned about 0.11% of Premier worth $1,997,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SRS Capital Advisors Inc. grew its position in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after buying an additional 1,427 shares in the last quarter. Van ECK Associates Corp grew its position in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after buying an additional 446 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Premier during the fourth quarter worth about $52,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Premier during the fourth quarter worth about $82,000. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Price Performance

Shares of NASDAQ:PINC traded down $0.21 during trading on Friday, reaching $22.06. The stock had a trading volume of 5,068,377 shares, compared to its average volume of 1,223,316. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The business's 50-day moving average price is $21.90 and its 200 day moving average price is $20.71. The stock has a market capitalization of $1.82 billion, a PE ratio of 38.70 and a beta of 0.57.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Friday, May 30th. Premier's dividend payout ratio (DPR) is currently 147.37%.

Insider Activity

In related news, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the transaction, the director now owns 28,673 shares in the company, valued at $660,339.19. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the transaction, the director now owns 18,668 shares of the company's stock, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,119 shares of company stock worth $516,976. Insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

PINC has been the subject of a number of analyst reports. Robert W. Baird raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Canaccord Genuity Group raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler raised their price target on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Premier has an average rating of "Hold" and a consensus price target of $22.20.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.